SINGAPORE - Homegrown co-working space operator JustCo has secured a US$50 million investment from Japanese construction and real estate firm Daito Trust Construction Co. Daito Trust will also invest up to 2.65 billion yen to form a joint venture with JustCo that will build and operate flexible workspaces in Japan.
Singapore-based JustCo and Daito Trust, which is listed on both the Tokyo Stock Exchange and Nagoya Stock Exchange, plan to open seven to nine centres in Tokyo between 2020 and 2021. The Singapore-based group currently operates co-working spaces in Australia, China, Indonesia, Singapore, South Korea, Taiwan and Thailand.
Katsuma Kobayashi, president and representative director of Daito Trust, said:"The flexible workspace business is one of the key elements in our comprehensive leasing business, and we believe the collaboration with JustCo marks a significant step forward."
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